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, that is not the way to do it. what we should do is what medicare did in 1965. it was a christmas tree in the beginning. that is how they got the legislation passed. after that, then they started putting restrictions. in fact, we must be doing a good job, because now everyone is -- scared that medicare pays so little because it is too stingy in its payment. we did put cost controls and later. medicare does have its financial problems. let me end by saying, i think the public option would have had the potential to control costs, because you could sell insurance, it would garner market share. that could allow for the consolidated purchasing power i talked about to reduce costs which would bring more buyers there. reading the newspapers, it does not look like we will have a public option. that would be the one way in which i could see a health care reform having potential for controlling costs. on a positive note, it is not about costs or dead. if we move towards universal coverage, we are going to be creating a system that will be more malleable to the changes we want to see with regard to cost containme
for medicaid and medicare is of such services. >> the morning. i am susan dencer. happy new year and welcome to our briefing on the national health spending numbers. this is a ritual at the centers for medicare and medicaid services as well as for health affairs to bring out these spending numbers every year, and we are delighted to be able to do that once more. this year we have a historic set of numbers to help cms actuaries and other members unveiled. as you were here and perhaps already read, who have had a historic slowdown in the rate of health spending, the slowest rate of growth in 50 years. of course, the other side of the story is that health spending still grew faster than the overall economy, so we are not out of our long-term trajectory of health-care spending growth continuing to outpace the growth in the gross domestic product. with no further ado, i am going to turn it over to our five panelists to present the data further. you will be hearing from mika hartmann, a statistician in the health statistics group. he works primarily on historical and age-based national health esti
insurers competition for medicare, it is not as effective as the va which does take advantage of its buying power. for-profit insurance does lead to higher health-care costs. they have to make a profit. in addition, they engage in marketing. they also engage in medical underwriting they have to hire a lot of actuaries to make sure that they're not taking on people who are too expensive. these are all very costly things. it raises the price of private insurance. they do not have as much bargaining power so they can keep their prices low, like taking advantage of consolidated power. then why do we allow private insurers to have equality monopoly? there is no reason to think that savings would be transferred to the public. nonprofit insurance. -- what you really need is nonprofit insurance. let me just end with a few thoughts on how health care reform -- as you know, congress does very little to control health-care costs. that is probably a reasonable short-term strategy. the proposals do nothing to consolidate purchasing power. the caveat is the public auction. -- the public plan. they do wel
on the report from members of the center of medicare and medicaid services. this is a 55 minute event. >> good morning, i'm the editor in chief of health affairs. having a year. welcome to our briefing on the health spending numbers. this is a ritual at the center for medicare and medicaid services as willis health affairs to bring out the spending numbers every year. we are delighted to be able to do that once more. this year we have a historic set of numbers to help others unveil. you will hear and perhaps you have already read the historic slow down in health-care spending in 2008. the slowest rate of growth in 50 years. on the other side of the story some health-care spending grew faster than the overall economy. we are not out of our long-term trajectory. we continue to outpace the growth in the gdp. with no further ado, i will turn into our fine folks who will explain the data further. this person is very knowledgeable. we will hear from another person who is an economist at the centers for medicare and medicaid services. she was primarily on historical state based spending. she and her
. in 2002 under the employee initiative the centers for medicare and medicaid services began publicly reporting quality information on nursing-home nationally on their web site. this was followed a year later by a similar effort in the home health arena. simultaneously there have been demonstration products by medicare in home house and skilled nursing facilities. state medicaid agencies have begun experimenting with a for performance in the nursing-home setting. the question is how these current market-based reforms address these broad goals of long-term care. in theory these reforms are perfectly compatible with these goals of improving quality of life and reducing fragmentation and increasing community-based services but there are several key attributes of these market-based reforms that may limit their effectiveness in this regard. the first limitation is current market-based reforms tend to rely on narrowly defined clinical quality measures. this tends to reinforce a medical model of care which pays more attention to clinical quality than issues related to quality of life and a c
but clearly with a body in medicare 55 and older you're going to pick up two or 3 million more. now you've got the program operated by opm. you will have a body in there of probably 7 million people. there's a provision most haven't focused on which is the state can set up a separate program for people, government-run, between 133% of poverty and 300% of poverty. i know a number of states will essentially do that and then finally, in all probability the exchanges are going to be run by states. so as the system comes forward you've got a bigger medicare and bigger medicaid that fixed rates, other components which are going to have negotiating rates. the bad news it's going to take four or five years to get this up and operating so i'm not sure there's going to be a lot of changes. but we have to start thinking how we bring this together. it may well be medicare and medicaid are dictating rates for the other groups that in fact negotiate. >> if we take that is the presumption we are going to see something, bill, i would like you to respond to what we are talking about here. but there's also the
company. it can help cover some of what medicare doesn't... in out-of-pocket expenses. call now for this free information kit... and edicare guide., if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you hoose your doctor. you choose your hospital. there are o networks and no.referrals needed. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare .supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... how ou ould start saving. assistance getting around their homes. there is a medicare benefit that may qualify you for a new power chair or scooter at little to no cost to you. stay tuned for this important medicare benefit information and free scooter guarantee. imagine... one scooter or power chair that could improve your may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full.
need to understand your meter. if you're over 65, have diabetes and are on medicare, call now and we'll send you a free meter. it offers alternate site testing, so you can test on your arm. no more pricking your fingers. so it's less painful. it makes a big difference. and to make it even less painful, the cost of your diabetes testing supplies may be covered by medicare. join over a million others who have chosen liberty medical. call now and get your free meter. plus, for a limited time, get a free cookbook when you join. call t number on your screen. >>> top stories now. transformer explosion today. knocked out power to much of cleveland's hopkins international airport. it is now restored. flights schedule for this afternooning and evening remain uncertain. generators providing electricity to the control tower and other critical areas there. >>> and utility crews in northern california are hard at work today trying to restore electricity to thousands of homes after a strong earthquake there. the 6.5 magnitude quake hit yesterday afternoon. 25,000 customers lost power. no serious i
. there is a medicare benefit that may qualify you for a new power chair or scooter at little or no cost to you. imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full. the scooter store. hi i'm doug harrison. we're experts at getting you the power chair or scooter you need. in fact, if we qualify you for medicare reimbursement and medicare denies your claim, we'll give you your new power chair or scooter free. i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today. >> glenn: we've laid out the problems and i want to talk a little bit about the solutions. maybe i'm too focussed on education as the solution. self-education is the solution. but gentlemen, help me out here. i think once progressivism is exposed for what it truly is, what the roots aare, who's involved. w
. it will cost us more? >> the center for medicare services says it will cost .6%, almost 1% more. so democrats are saying, hey, this is pretty good. only 1% increase. we're having tremendous increases every year. although this past year we had the lowest increase in a long time. a little over 4% based on the recession. however, that's not the real story. the real story in that report also says that doctors and hospitals will find it unprofitable, perhaps, to take medicare and may, in fact, move away from accepting medicare patients. >> that's the real take away in that report. >> then if -- if the pool of doctors who take medicare patients shrinks, does that lead to what some have referred to as rationing simply because there will be fewer to pick from? >> absolutely. in an alcoholic since, rationing and leads to increased prices for health consumers based on demand, and what it's going to lead to is we have now medicare increases of about 8% a year historically. the government is saying with this plan, we're going to cut medicare a half trillion dollars. can that really be done based upon the
: if you're over 65, have diabetes and are on medicare... vo: ...call now and we'll send you a free meter. vo: it offers alternate site testing, so you can test on your arm. no more pricking your fingers. so it's less painful. renee: it makes a big difference. vo: and to make it even less painful, the cost of your diabetes testing supplies may be covered by medicare. vo: join over a million others who have chosen liberty medical. vo: call now and receive a free accu-chek aviva meter. vo: plus, for a limited time, get a free cookbook when you join. end tag vo: call the number on your screen. he was no stranger to stardom and the gossip that came with it. "it's very easy for tabloids to grab onto that and say,'what's the best way we can spin this into a front page story? i know - kirk cameron goes off the religious deep end!' when in actualty it was nothing more than 17-year-old old kid finding something that was worth more tha >> welcome back, everybody. in 2010, americans are hoping the job outlook will be brighter, especially after two years of continuous layoffs, 7 million americans hav
, medicare and otherwise, being asked to pay for that additional -- setting aside something that unionized workers will not have to face for an additional five years? >> i think some of the revenue questions are obviously part of the discussions that are ongoing. the president has made a commitment that he will keep to ensure that this legislation is fully paid for. again, it is something that is a little different that is going on in washington these days. this is a proposal that will be scored and it will be rendered a judgment as to the fact that the president will pay for every ççdime in this bill. the compensated for in taxes for additional medicare savings? >> again, i think some of the discussions are ongoing. >> on healthcare, the last month or six weeks you all have proceeded with no republican support, no republican negotiations as far as anyone can tell, 60-40 votes. and it looked like you were on the glide path to passing it in the senate's with democratic- only boats. you now faced the prospect in çmassachusettsç of possibly needing a republican vote. is there some reg
- term liabilities is medicare, medicaid, and health care spending. nothing comes close. social security would probably fix the same way to and ronald reagan sat down together and could figure something out. that is manageable. medicare and medicaid are a massive problem down the road. that is going to be what our children have to worry about. paul's approach, i want to be careful to not simplify this because i know you have a lot of detail in your plan, but i understand it to say that we will provide doctors of some sort for current medicare recipients at the current level. 55 and over. there is a grandfathering in for future beneficiaries. i just want to point out that i have read it. the basic idea is that at some point, we hold medicare costs per recipient constant as a way of making sure that it does not go way out of black. i am sure there are some details -- we hold medicare costs per recipient constant as a way of making sure that it does not have things going out of wahack. it has to be reformed for the younger generations because it is going bankrupt. why not give people the sa
middle-age because the pattern of the war. most are going to qualify for medicare any way. the va has excess capacity. soon it's going to have a lot more excess capacity. it is less the world war ii generation and the korean war passalong. it's also been a winning for a decade now has literally offering the best care anywhere on metrics ranging from patient satisfaction to the use of information technology, evidence based medicine. anybody remotely acquainted with the quality of literature on health care the last decade would know the va has the best care anywhere. also, although it is hard to get a card number it appears the cost per patient as compared to medicare is about two-thirds. so this is a triple winner. open up the va to the vets who can use the medicare entitlement not only that, open it up to their wives, let them buy into the system. this now makes clinical sense but 8-year-old veteran scott more bdy with their wife, they have to take care of their tether to the coverage of the buttocks sense because every person of medicare and to the va you have saved about one third a
this proposed 1% medicare payroll tax hike to fund the obama health care plan by including investments, like capital gains and dividends rather than simply wages. now, the wage hike's bad enough. obama care is bad enough. but applying this to investment simply raises the cost of capital, lowers the return on risk taking, and damages prospects for economic recovery growth. what is team obama thinking. the new year tax attack. i've never seen anything so dumb. i'm not surprised stocks sold off today, especially the bank stocks. and i've got to tell you, if these tax hikes actually get through the congress and the white house in the weeks ahead, the stock market is going to sag, no matter how good fourth-quarter profits come in. you cannot tax your way to prosperity. did i say dumb policy? that is my take. extremely dumb policy. now, i want to get some reaction on this point from our guests. we have ssht director for tax and budget policy at the center for american progress, michael lyndon. we also have the "wall street journal's" steve moore. michael lyndon, because i believe in fairness and o
the paperwork, and medicare and my insurance covered the cost. we can work directly with medicare or with your insurance company. we can even help with financing. if there's a way, we'll find it! so don't wait any longer, call the scooter store today. >>> welcome back to "the fast money halftime report." we are getting to the heart of the action as it is happening. the latest round of avp data disappoints and there are a number of trades that are working today including metals, miners and retail stocks. let's get to the word on the street. our fast money crew today the ambassador jim seymour and jared levy of peak six and tom gored oven forex.com. this is a call we got on the desk for the past few weeks. it is the goldman call on the global economic recovery upgrading a number of industrial names including 3m, a lead or the doul as well as material names including the steel stocks. which one here would you put fresh capital into? >> think it was just disk based again. look at the nucor, aks have underperformed. mattel which is the largest player has been upgraded because they're slowing them b
ticket items, the entitlement spending, medicare, medicaid. that's exactly what the president has been working so hard with the congress to put in place some important reforms that will genuinely slow the growth rate of those costs. and that is the most fiscally responsible thing one could be doing at this point. >> ms. romer, final question. 660,000 people dropped out of the work force. what explains that and what happens if they come back in to the unemployment rate? one would assume it will go a lot higher. >> well, you're certainly right on both accounts in the sense that we did see people drop out of the labor force and that is something that tends to happen in recessions. people do become discouraged. and if we start -- when we start to add lots of jobs that will surely encourage some of those, discourage workers to come back in. i think the important thing, whatever effect that might have on the unemployment rate in the short run that would be a good thing. it would mean the economy is expanding, they do see hope, and that is something we'll be looking forward to in the sense of
, and medicare and private insurance had to pay for all this waste. all i am trying to say is that if you are going to put primary- care physicians in, you have to teach them to know what they are doing rather than to rely on specialists to get the answers. host: great, thank you. we have a la -- a lot of callers waiting. guest: what she is describing is the world. struggling with in edmonson. -- had the world we are struggling with in madison. we cannot know it all. we have been unwilling to admit that. we've been trained to get the idea that it is all going to be in our head, and we have not developed the systems in the place that can change that. it is why i ended up writing on something as mundane as developing a checklist across madison. we look at the aviation world and how they handle themselves, the skyscraper world, and we found the the first principle of successful conditions of complexity is for experts to admit to themselves that they are fallible, that they will fail at times, it will not remember everything, and then to build in those standards of practice, the checks on the
-span. finally, i believe the way out of this health-care mess is to open up medicare, certainly to page 55, and allow the medicare to cherry pick help the citizens such as myself. i pay $7,000 out of pocket every year. i've only used $700 in health insurance. there would be left over profit that could go to medicare. the must be millions who would not use their health care if medicare would open. we don't have to be in the shark tank with private insurers who would deny claims. host: and then they'll, virginia. on the democrats' line. caller: good morning. i think this is pathetic that c- span is sending letters out. i did not ever remember when c- span ever sent a letter during the bush administration. obama said that, yes. he said from the white house. i remember john mccain, both parties, and all -- every other health institution was there to discuss what was going on. if you see the level of people calling, the intellectualism has drastically dropped. the guests invited over at c- span and his supporters and the people who comment always spew their venomous about partisan shship which
medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. that's a lot of people. to prove my point i asked gary here to friend request all of them. how's it coming, gary? [ ding ] we got one! that's good. oh! ah, wow. [ dinging continues ] becoming a popular guy. [ rattli
. there it is good news. compared to medicare, social security is in reasonably good shape. with some relatively small adjustments, you can have that solvent for a long time. i know people are concerned about it. social security we can fix. in terms of the cola, it stands for the cost of living allowance. it is put in place to make sure that social security is keeping up with inflation. here's the problem. this past year, because of the severity of the recession, we did not have inflation. we actually had deflation. so prices actually fell last year. as a consequence, technically, seniors were not eligible for a cost-of-living adjustment because prices did not go up in the aggregate. that does not mean that individual folks were not being pinched by higher heating prices or what have you. but on average, prices went down. here's what we did. of congress here, we did vote to provide a $250 one-time payment to seniors, which, when you factored it in, amounted to about 1. 8 percent. so it was almost the equivalent of the cola, even though it wasn't actually the cola. so we didn't forget seniors. we
consider... an aarp medicare supplement insurance plan... insured by united healthcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. da >>> good morning, folks. welcome back to "squawk on the street." i'm matt nesto checking all kinds of movers. check out worthington industries, used to call it worthington steel. the stock is u
over the next ten years, the medicare drug benefit will, which is about the cost of the health benefits. so these people just have no credibility whatsoever when they complain about deficits. post ogre book is about this a deli or of supply-side economics as reaganomics as it has been known. starts with a look back to fdr. in a chapter to the triumph of keynesian economics. >> guest: my basic idea was that i had observed the supply-side economics had gone to recycle where there was a real problem that the existing orthodox couldn't handle the new philosophy, the supply-side philosophy, came into existence was implemented come appeared to be successful and then henceforth it was supplied in every circumstance, whether was justified or not. say what kind of a cycle of success and failure. and as i thought about it, i realized that keynesian economics have gone through exactly the same cycle. it had been implemented in 1930's, helped and the great depression, but then was misapplied in the 1950's and 60's and give us inflation. so it seemed to me there was a cemetery here that was interest
and copayments can add another $1,000 to that. there's no medicare or medicaid. the government pays a cash subsidy to anyone who can't afford the basic policy. no one goes broke from getting sick, but health care's cost to the economy here is higher than anywhere except the u.s. what you built here was a rolex and really, perhaps, you should have made a timeex. >> it is a rolex. you're right. it should not just look like a rolex but also work like a rolex. >> reporter: it does, and the swiss love it, except once a year when premium prices go up. insurance companies which aren't allowed to make a profit from selling basic coverage and can't limit patient choice complain their hands are tied. do you think that patients have too much choice now? >> they have a lot of choice. >> reporter: too much? >> i think perhaps yes. >> reporter: given an aging population and high-tech medicine, some say costs are bound to rise 3% or 4% a year. health care reform here has been more expensive than reformers predicted, but the swiss say they didn't expect a perfect system overnight. >> such a system needs,
... to help you stay well. if you're on medicare part d, schedule a free one-on-one plan review session... with your walgreens pharmacist. they'll review all your medications... no matter where they're from... and help you get the most from your plan. so you can relax and enjoy all your benefits. walgreens. there's a way to stay well. >>> identical twins in florida or born on different days and actually in different decades. >> i turned to her and her husband and said, you want them to have the same birthday or do you want them to have different birth dates? >> they will have different parties. >> doctors delivered the first baby by c section just before midnight december 31 and the other baby arrived moments after the clock struck 12:00. the babies will be going home in the next eight weeks. great story. cold around here. >> breezy and cold. arctic air for the weekend. >> breezy and cold. arctic air for the weekend.
and the debate has been exploding. >> i have been told there is a clause in there that everyone that is medicare age will be visited and told to decide how they wish to die. this bothers me greatly and i would like for you to promise me that this is not in this bill. >> nobody is going to be forcing you to make a set of decisions on end of life care based on some bureaucratic law in washington. >> mr. president, i make a living selling individual health insurance. why is it that you have changed your strategy from talking about healthcare reform to health insurance reform and decided to villify the insurance companies? >> that is a fair question. my intent is not to villify insurance companies. if i was villifying them, it is what we would be doing would be to say that private insurance has no place in the healthcare market and some people believe that. i don't believe that. in is historic vote that took place this morning, members of the senate joined their colleagues in the house of representatives to pass a landmark health insurance reform package. if this legislation becomes law workers won'
're exploding the size of government, and you should have been the resources we have, medicare cuts, trillions of dollars over 20 years, and using it to expand a brand new entitlement. if you reduce medicare by that much you should make it to make medicare insolvent, $23 trillion of unfunded liability. this concept of what's being done here n the end they can claim, we're giving health care to the main people but the real result is going to be -- government's not going to be affordable. >> colorado voters, they wanted reform. the piece in "the new york times," dying for health care reform, please, please. and then the actual bill itself, no one wants it. >> like "the new york times." >> that's in "the times," too. >> new york started out in the same boat and they changed their mind, leaders in new york city. >> there's a lot of second-guessing in massachusetts right now. >> the senator's going to be with us for the rest of the program. if you've got any comments or questions for him, anything you'd like to see us address on "squawk," go ahead and e-mail us at squawk@cnbc.com. >>> next up, what
, bring down the deficit, cover the uninsured, strengthen medicare for seniors and stop insurance company abuses, let me know. >> the republican response was that the newly elected governor of virginia, bob mcdonald who said the government simply tried to do too much. he says americans want affordable health care but don't want uncle sam running it. he voiced concern about overall spending in washington. >> the amount of debt is on pace to double in five years and triple in 10. the federal debt is now over $100,000 per household. this is simply unsustainable. the president's partial phrase announced tonight on discretionary spending is a small one. the circumstances of our time demand that we reconsider and restore the proper limited role of government at every level. >> on social issues, the president said he would work with the military to end don't ask don't tell for gays this year. the republican senator john corning calls that "social engineering." back to you guys in new york. >> as you look at that shot right now -- >> of molly? >> as you look at the shot of the president of the
it. hay is signing the medicare bill. this is the same month, july 1965. and at the same time, in the next week, he's launching the first huge escalation secretly without telling the american people of the vietnam war. and what obama is -- as i see it, trying -- he has a vast vision for america as lyndon johnson did. and he's setting out to transform the country on many fronts. and i think it is going to be fascinating in world history and the history of this country to see if hay success saeds. >> you don't think that johnson -- you know, johnson overreached as -- failed because of an overreach of the great society. you think it was all undone because of vietnam. >> let me give you an example. 1965, everything looks better. and then the money starts to go for vietnam. you know, if i can just take one more minute, if you read the notes of his meetings, he called them the tuesday cabinet meetings, on the second floor of the white house and the family dining room, off enwith four people. mcnamara, george bundy, chairman of the choynlt chiefs of staff. he was suddenly -- you will
been told there is a policy everyone with medicare age will be visited will be told how they wish to die. this bothers me greatly. i would like you to promise me this is not in the bill. >> nobody is going to force you to make a set of decisions on end of life care based on bureaucratic law in washington. >> mr. president i make a living selling individual health insurance. why is it you changed your strategy from talking about healthcare reform to health insurance reform and decided to vilify the insurance company. >> that's a fair question. my intent is not to vilify insurance companies if i was vilifying them it would be to say frooif vat insurance has no place in the healthcare market. so some people believe that. i do believe it. in a historic vote members in the senate asked them to pass a landmark health insurance reform package. if this leg slaegs becomes law workers won't have to worry about losing coverage if they lose or change jobs. families will save on their premiums businesses see their cost drives if we do not act will save money now and in the future. >> labor uni
medicare to create new programs. we don't need $500 billion in new taxes to reform healthcare. there's a chance for the republican party and democrat party to find common sense solutions. i highway hope we'll meet them . >> the polls suggest that the people believe that the government is still broken and i guess there's a political equation that says for the party out of power that, works well but you don't want them to think that. what can you do to give the perception and get the government working again. >> start with healthcare and see if we induce climate and energy. find way to become energy independent and look at immigration, border security. we tried on social security and failed, we tried on healthcare and failed. we tried on immigration and failed. we're running out of the opportunities as a nation to try hard and fail. we need to solve some problems and i think i've demonstrated the ability to reach across the aisle and meet them halfway. that never happened in healthcare. >> thank you. >> so far most indications are the name of the game tonight is jobs. the but key to re
althcare insurance company. it can help cover some of what medicare doesn't... so you could save up to thousands of dollars... in out-of-pocket expenses. call now for this free information kit... and medicare guide. if you're turning 65 or you're already on medicare, you should know about this card; it's the only one of its kind... that carries the aarp name -- see if it's right for you. you choose your doctor. you choose your hospital. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't cover. save up to thousands of dollars... on potential out-of-pocket expenses... with an aarp medicare supplement insurance plan... insured by united healthcare insurance company. call now for your free information kit... and medicare guide and find out... how you could start saving. >>> our guest host mark oelsen, federal reserve governor. did you folks everyone joy yourselves today? >> we did. got a lot done. >> we got some good stuff done. good guests on. we will stay low for a while. when we do exit t. will not be the end of the world. >> we wi
't make some changes. now, here's the good news. compared to medicare, social security is actually in reasonably good shape, and with some relatively small adjustments, you can have that solvent for a long time. so social security is going to be there. i know a lot of people are concerned about it. social security we can fix. now, in terms of the cola, the formula -- cola stands for cost of living allowance, so it's put in place to make sure that social security is keeping up with inflation. here's the problem. this past year, because of the severity of the recession, we didn't have inflation; we actually had deflation. so prices actually fell last year. as a consequence, technically, seniors were not eligible for a cost of living adjustment, to have it go up because prices did not go up in the aggregate. that doesn't mean that individual folks weren't being pinched by higher heating prices or what have you, but on average prices went down. here's what we did. working with these key members of congress here, we did vote to provide a $250 one-time payment to seniors, which, when you
in a competitive marketplace. we want a system in which seniors don't have these huge gaps in their medicare prescription drug coverage. and where medicare itself is on a sounder financial footing. those are the things that we're fighting for. and i'm not going to stop on this, because it's the right thing to do. and, by the way, if you are serious about reducing our deficit and debt, you cannot accomplish it without reforming our health care system, because that's what's gobbling up more federal dollars than anything else. i don't understand folks who say they don't want to see government spending out of control, and then are fighting reforms that the congressional budget office says would cut $1 trillion off our deficits over the next two decades. those aren't my numbers. we're never going to stop fighting to cut waste and abuse in washington. we do have to rein in deficits that have been accumulating for too long. families across the country are tightening their belts and making tough decisions. it's time for the federal government to do the same, and that's why i proposed specific step a
in washington on massachusetts. cutting half a trillion dollars from medicare you're going to look at longer lines, lesser coverage. we know we need to reform pricing as a member going to be doing very shortly. but do you think were going to have a one-size-fits-all plan in congress is going to come down here in massachusetts and hurt what we have here at that's one of the differences between martha coakley and i peered were talking about a trillion dollar health care plan, have a trillion dollars of medicare cuts at a time when we just don't need it. i would propose actually going and allowing the state to do it individually with a government incentive i senate. very similar to what he did here. we can actually export out and show them how to do it. i'm looking for to having the opportunity to be the 41st about and make sure that we get that plan back to the drawing board. >> ms. coakley? >> thank you, david. thanks for hosting us this evening. how would be proud to be the 60th vote to make sure we get health care reform that we so badly need. we've taken a major massachusetts and getting e
to freeze government spending for three years. spending related to our national security, medicare, medicaid, and social security will not be affected. but all other discretionary government programs will. like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don't, and if i have to enforce this discipline by veto, i will. martha: as we have told you and has been much discussed, there's always been a lot of sniping about what would actually be included in that spending freeze and how much of a difference it would make. house speaker nancy pelosi in a very controversial move not long before the speech last night said she thinks that defense spending should be part of that spending freeze. congressman adam smith is on the house armed services committee and he joins us now. congressman, welcome, good to have you here this morning. >> thank you for having me, i appreciate it. martha: what did you think about the fact that the speaker of the house, nancy pelosi, came out before the president spoke last night and said why not include defense sp
, and medicare and my insurance covered the cost. we can work directly with medicare or with your insurance company. we can even help with financing. if there's a way, we'll find it! so don't wait any longer, call the scooter store today. welcome back to "the call." tracking the market's "real time flash" for you, great days for the financials except for charles schwab. the company's come out and reduced their commission schedule to 895 from 1295. they've gotten rid of the million dollar minimums and the hundred dollar trades. what's interesting if you look at their effect on the market for the discounters, ameritrade also getting hit, but twice as bad as schwab due to actions of their rivals. so schwab and ameritrade both trading low or a day when ameritrade is strong. >>> stocks have been held hostage by the dollar over the past few months. can it break that hold? let's ask m.f. global vice president of financial research and jim la camp, portfolio manager of macro portfolio vaz advisers. thanks for your time. i guess first question we have to ask is is the dollar going to continue streng
't have one. we have a quasisystem. we have medicare and medicaid. half of medicare expenditures, half of all health care expenditures. if you look to those programs basically to put it simply the involve massive subsidization of everybody. the government tries to subsidize everybody in keep the price below what they would pay in the market. what happens is, it is sort of elementary. if you subsidize something you get more of it. went to get more of it you get big explosive demands and eventually the government has to put a cap on that and then you get government rationing. when that happens to get lines and who is going to go to the top of the line? i will tell you who is going to get to the top of the line. we know this. people like me. people have connections, people who are knowledgeable, people who can gain the system. who is going to go to the bottom of the line? poor was virginian so if you want to be there this is not a fair system. now, to do this we will need to talk about what a feasible alternative, what it will market-based insurance will look like for goody will meet to t
are, elderly, or late middle-aged because of the pattern of our wars. most will qualify for medicare anyway. the va has excess capacity. it soon will have a whole lot more excess capacity. as the last the world war ii generation and korea war pass along. . . dicare is about two-thirds. so this is a triple winner. open up the va to the vets who can use the medicare entitlement not only that, open >> let them buy into the system. does not only makes clinical sense, an 80 year-old veterans, they're both going to have to learn to take care of each other, but it makes financial sense because every person you get off medicare into the va, you save may be about a third. and patient satisfaction is incredibly high. so that's my case. for what we've got to do, not just about agent orange situation, but getting our veterans ride in general. thank you. [applause] >> well, thank you everyone for your remarks. i want to open it up to questions from the audience. at first i just want to ask a few myself. and the first is, that it seems like both in vietnam and in the united states, this is sort of
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